48
Views
0
CrossRef citations to date
0
Altmetric
Research Article

To the moon with Dogecoin! Disentangling the causalities behind extrinsic and intrinsic motivations for memecoin investments

ORCID Icon, , &
Received 08 Aug 2023, Accepted 23 Apr 2024, Published online: 01 May 2024

References

  • Agarwal, R., & Karahanna, E. (2000). Time flies when you’re having fun: Cognitive absorption and beliefs about information technology usage. MIS Quarterly, 24(4), 665. https://doi.org/10.2307/3250951
  • Ahmad, M., & Wu, Q. (2022). Does herding behavior matter in investment management and perceived market efficiency? Evidence from an emerging market. Management Decision, 60(8), 2148–2173. https://doi.org/10.1108/MD-07-2020-0867
  • Aiken, A.L., Ellis, J.A., & Kang, M. (2020). Do politicians ‘put their money where their mouth is?’ ideology and portfolio choice. Management Science, 66(1), 376–396. https://doi.org/10.1287/mnsc.2018.3175
  • Akyildirim, E., Aysan, A.F., Cepni, O., & Darendeli, S.P.C. (2021). Do investor sentiments drive cryptocurrency prices? Economics Letters, 206, 109980. https://doi.org/10.1016/j.econlet.2021.109980
  • Alam, S.S., Makmor, N., Masukujjaman, M., Mohamed Makhbul, Z.K., Ali, M.H., & Al Mamun, A. (2023). Integrating the social support theory and technology acceptance model of social commerce websites. Revista Galega de Economía, 32(2), 1–24. https://doi.org/10.15304/rge.32.2.8558
  • Almeda, S.G., & Hartmann, B. (2023). NFT art world: The influence of decentralized systems on the development of novel online creative communities and cooperative practices. DIS ’23: Proceedings of the 2023 ACM Designing Interactive Systems Conference, Pittsburgh, USA.
  • Alt, R. (2020). Electronic markets on blockchain markets. Electronic Markets, 30(2), 181–188. https://doi.org/10.1007/s12525-020-00428-1
  • Ante, L. (2023). How Elon Musk’s twitter activity moves cryptocurrency markets. Technological Forecasting and Social Change, 186(16), 122112. https://doi.org/10.1016/j.techfore.2022.122112
  • Arslanian, H. (2023). The book of crypto - the complete guide to understanding bitcoin, cryptocurrencies and digital assets. Palgrave Macmillan. https://doi.org/10.1007/978-3-030-97951-5
  • Åslund, C., Larm, P., Starrin, B., & Nilsson, K.W. (2014). The buffering effect of tangible social support on financial stress: Influence on psychological well-being and psychosomatic symptoms in a large sample of the adult general population. International Journal for Equity in Health, 13(1), 85. https://doi.org/10.1186/s12939-014-0085-3
  • Baldwin, J. (2018). In digital we trust: Bitcoin discourse, digital currencies, and decentralized network fetishism. Palgrave Communications, 4(1), 14. https://doi.org/10.1057/s41599-018-0065-0
  • Bannier, C., Meyll, T., Röder, F., & Walter, A. (2019). The gender gap in ‘bitcoin literacy’. Journal of Behavioral and Experimental Finance, 22, 129–134. https://doi.org/10.1016/j.jbef.2019.02.008
  • Beal, D.J., Goyen, M., & Philips, P. (2005). Why do we invest ethically? Journal of Investing, 14(3), 66–78. https://doi.org/10.3905/joi.2005.580551
  • Bogers, T., & Wernersen, R.N. (2014). How `Social’ are social news sites? Exploring the motivations for using Reddit.com. IConference 2014 Proceedings, iSchools. https://doi.org/10.9776/14108
  • Bouteska, A., Hajek, P., Zoynul, M., & Dong, Y. (2023). Effect of twitter investor engagement on cryptocurrencies during the COVID-19 pandemic. Research in International Business and Finance, 64, 101850. https://doi.org/10.1016/j.ribaf.2022.101850
  • Boxer, M., & Thompson, N. (2020). Herd behaviour in cryptocurrency markets. Australasian Conference on Information Systems, Wellington, New Zealand.
  • Böyükaslan, A., & Ecer, F. (2021). Determination of drivers for investing in cryptocurrencies through a fuzzy full consistency method-bonferroni (FUCOM-F’B) framework. Technology in Society, 67, 101745. https://doi.org/10.1016/j.techsoc.2021.101745
  • Brennecke, M., Guggenberger, T., Schellinger, B., & Urbach, N. (2022). The De-central bank in decentralized finance: A case study of MakerDAO. Proceedings of the 55th Hawaii International Conference on System Sciences, Maui, USA (pp. 6073–6082).
  • Bretschneider, U., & Leimeister, J.M. (2017). Not just an ego-trip: Exploring backers’ motivation for funding in incentive-based crowdfunding. The Journal of Strategic Information Systems, 26(4), 246–260. https://doi.org/10.1016/j.jsis.2017.02.002
  • Bury, B. (2016). Creative use of internet memes in advertising. World Scientific News, 57, 33–41.
  • Bury, B. (2017). Such LOL: Linguistic variety and identity construction in internet memes. Prace Naukowe Akademii Im Jana Długosza w Częstochowie Studia Neofilologiczne, 13, 81–90. https://doi.org/10.16926/sn.2017.13.06
  • Campbell, J.Y., & Ammer, J. (1993). What moves the stock and Bond Markets? A variance decomposition for long-term asset returns. The Journal of Finance, 48(1), 3–37. https://doi.org/10.1111/j.1540-6261.1993.tb04700.x
  • Caplan, G. (1974). Support systems and community mental health: Lectures on concept development. Behavioral Publications.
  • Carroll, R. (2022). Nfts: The latest technology challenging copyright law’s relevance within a Decentralized System. Fordham Intellectual Property, Media and Entertainment Law Journal, 32(4), 979–1009.
  • Cary, M. (2021). Down with the #Dogefather: Evidence of a cryptocurrency responding in real time to a crypto-tastemaker. Journal of Theoretical & Applied Electronic Commerce Research, 16(6), 2230–2240. https://doi.org/10.3390/jtaer16060123
  • Chainalysis. (2023). The 2023 geography of cryptocurrency report.
  • Chakraborty, U., & Biswal, S.K. (2023). Are online reviews credible? The effects of online reviews for the adoption of MOOCs for E-learning. Journal of Decision Systems, 32(4) , 678–699. https://doi.org/10.1080/12460125.2022.2133370
  • Charfeddine, L., Benlagha, N., & Maouchi, Y. (2020). Investigating the dynamic relationship between cryptocurrencies and conventional assets: Implications for financial investors. Economic Modelling, 85, 198–217. https://doi.org/10.1016/j.econmod.2019.05.016
  • Chin, W.W. (1998). The partial least squares approach to structural equation modeling. In G. A. Marcoulides (Ed.), Modern methods for business research (pp. 295–336). Lawrence Erlbaum Associates Publishers.
  • Chohan, U.W. (2017). A history of Dogecoin. SSRN Electronic Journal, (December 2017). https://doi.org/10.2139/ssrn.3091219
  • Christopher Westland, J. (2010). Lower bounds on sample size in structural equation modeling. Electronic Commerce Research and Applications, 9(6), 476–487. https://doi.org/10.1016/j.elerap.2010.07.003
  • Cobb, S. (1976). Social support as a moderator of life stress. Psychosomatic Medicine, 38(5), 300–314. https://doi.org/10.1097/00006842-197609000-00003
  • Cohen, J. (1988). Statistical power analysis for the behavioral sciences (2nd ed.). Lawrence Erlbaum Associates.
  • Cohen, E.E., & Vinci, A. (2021). Digital assets- does the perception match reality? The CPA Journal, 91(6/7), 30–35.
  • CoinMarketCap. (2023). Top memes tokens by market capitalization. Retrieved December 17, 2023, from. https://coinmarketcap.com/view/memes/
  • Corbet, S., Larkin, C., Lucey, B.M., Meegan, A., & Yarovaya, L. (2020). The impact of macroeconomic news on bitcoin returns. The European Journal of Finance, 26(14), 1396–1416. https://doi.org/10.1080/1351847X.2020.1737168
  • Corbet, S., Meegan, A., Larkin, C., Lucey, B., & Yarovaya, L. (2018). Exploring the dynamic relationships between cryptocurrencies and other financial assets. Economics Letters, 165, 28–34. https://doi.org/10.1016/j.econlet.2018.01.004
  • Davis, F.D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340. https://doi.org/10.2307/249008
  • Davis, F.D., Bagozzi, R.P., & Warshaw, P.R. (1992). Extrinsic and intrinsic motivation to use computers in the workplace 1. Journal of Applied Social Psychology, 22(14), 1111–1132. https://doi.org/10.1111/j.1559-1816.1992.tb00945.x
  • Deci, E.L. (1971). Effects of externally mediated rewards on intrinsic motivation. Journal of Personality and Social Psychology, 18(1), 105–115. https://doi.org/10.1037/h0030644
  • Deci, E.L. (1972). Intrinsic motivation, extrinsic reinforcement, and inequity. Journal of Personality and Social Psychology, 22(1), 113–120. https://doi.org/10.1037/h0032355
  • DeMatteo, M. (2021). The psychology of meme coins, from actual investors. CoinDesk. Retrieved January 10, 2024, from. https://www.coindesk.com/markets/2021/12/30/the-psychology-of-meme-coins-from-actual-investors/
  • Dorn, D., & Sengmueller, P. (2009). Trading as entertainment? Management Science, 55(4), 591–603. https://doi.org/10.1287/mnsc.1080.0962
  • Faverio, M., & Massarat, N. (2022). 46% of Americans who have invested in cryptocurrency say it’s done worse than expected. Pew Research Center. Retrieved January 14, 2023, from. https://www.pewresearch.org/short-reads/2022/08/23/46-of-americans-who-have-invested-in-cryptocurrency-say-its-done-worse-than-expected/
  • Finance Magnates. (2023). The psychology of NFT collecting: The appeal of ownership and exclusivity. Retrieved January 12, 2023, from. https://www.financemagnates.com/cryptocurrency/education-centre/the-psychology-of-nft-collecting-the-appeal-of-ownership-and-exclusivity/
  • Fisch, C. (2019). Initial Coin Offerings (ICOs) to finance new ventures. Journal of Business Venturing, 34(1), 1–22. https://doi.org/10.1016/j.jbusvent.2018.09.007
  • Fisch, C., Masiak, C., Vismara, S., & Block, J. (2021). Motives and profiles of ICO investors. Journal of Business Research, 125, 564–576. https://doi.org/10.1016/j.jbusres.2019.07.036
  • Fornell, C., & Larcker, D.F. (1981). Structural equation models with unobservable variables and measurement error: Algebra and statistics. Journal of Marketing Research, 18(3), 382–388. https://doi.org/10.1177/002224378101800313
  • FWX. (2024). Meme coins: The fun and quirky side of crypto. Retrieved January 12, 2024, from. https://fwx.finance/learn/article/meme-coins
  • Gao, X., & Lin, T.-C. (2015). Do individual investors treat trading as a fun and exciting gambling activity? Evidence from repeated natural experiments. The Review of Financial Studies, 28(7), 2128–2166. https://doi.org/10.1093/rfs/hhu075
  • Gawai, H.M., Conrad, C., & Keselj, V. (2022). It’s more than memes: User risk appetite and app enjoyment predict simulated mobile trading app behavior. International Conference on Information Resources Management, Oshawa, Canada.
  • George, L.K. (1998). Rational choice theories: Contributions and limitations. Journal of the American Society of CLU & ChFC, 52(5), 32–38.
  • Gerow, J.E., Ayyagari, R., Thatcher, J.B., & Roth, P.L. (2013). Can we have fun @ work? the role of intrinsic motivation for utilitarian systems. European Journal of Information Systems, 22(3), 360–380. https://doi.org/10.1057/ejis.2012.25
  • Gjermundrød, H., & Dionysiou, I. (2014). Recirculating lost coins in cryptocurrency systems. In W. Abramowicz & A. Kokkinaki (Eds.), Business Information Systems Workshops. BIS 2014. Lecture notes in business information processing (pp. 229–240). Springer Nature.
  • Glaser, F., Zimmermann, K., Haferkorn, M., Weber, M.C., & Siering, M. (2014). Bitcoin - asset or currency? Revealing users’ hidden intentions. Twenty Second European Conference on Information Systems, Tel Aviv, Isreael.
  • Goetzmann, W.N., & Dhar, R. (2006). Bubble investors: What were they thinking?. Yale ICF Working Paper, (06–22), 1–37.
  • Gramlich, V., Guggenberger, T., Principato, M., Schellinger, B., & Urbach, N. (2023). A multivocal literature review of decentralized finance: Current knowledge and future research avenues Vincent. Electronic Markets, 33(11), 1–37. https://doi.org/10.1007/s12525-023-00637-4
  • Guastello, S.J. (2016). Cognitive workload and fatigue in financial decision making. Springer.
  • Guo, H., Zhang, D., Liu, S., Wang, L., & Ding, Y. (2021). Bitcoin price forecasting: A perspective of underlying blockchain transactions. Decision Support Systems, 151, 113650. https://doi.org/10.1016/j.dss.2021.113650
  • Gupta, S., Gupta, S., Mathew, M., & Sama, H.R. (2021). Prioritizing intentions behind investment in cryptocurrency: A fuzzy analytical framework. Journal of Economic Studies, 48(8), 1442–1459. https://doi.org/10.1108/JES-06-2020-0285
  • Hair, J.F., Anderson, R.E., Black, W.C., & Babin, B.J. (2018). Multivariate Data Analysis (8th ed.). Cengage Learning EMEA.
  • Härdle, W.K., Harvey, C.R., & Reule, R.C.G. (2020). Understanding cryptocurrencies. Journal of Financial Econometrics, 18(2), 181–208. https://doi.org/10.1093/jjfinec/nbz033
  • Harrigan, M., Shi, L., & Illum, J. (2018). Airdrops and privacy: A case study in cross-blockchain analysis. 2018 IEEE International Conference on Data Mining Workshops (ICDMW), Singapore (pp. 63–70). IEEE.
  • Hasan, A.A.-T., Sumon, S.M., Islam, M.T., & Hossain, M.S. (2021). Factors influencing online shopping intentions: The mediating role of perceived enjoyment. Turkish Journal of Marketing, 6(3), 239–253. https://doi.org/10.30685/tujom.v6i3.132
  • Henseler, J., Ringle, C.M., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the Academy of Marketing Science, 43(1), 115–135. https://doi.org/10.1007/s11747-014-0403-8
  • Hertwig, R., Barron, G., Weber, E.U., & Erev, I. (2004). Decisions from experience and the effect of rare events in risky choice. Psychological Science, 15(8), 534–539. https://doi.org/10.1111/j.0956-7976.2004.00715.x
  • Hirschman, E.C., & Holbrook, M.B. (1982). Hedonic consumption: Emerging concepts, methods and propositions. Journal of Marketing, 46(3), 92. https://doi.org/10.1177/002224298204600314
  • Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263. https://doi.org/10.2307/1914185
  • Kamps, J., & Kleinberg, B. (2018). To the moon: Defining and detecting cryptocurrency pump-and-dumps. Crime Science, 7(1), 18. https://doi.org/10.1186/s40163-018-0093-5
  • Kassamany, T., Harb, E., & Baz, R. (2022). Hedging and safe haven properties of ethereum: Evidence around crises. Journal of Decision Systems, 32(4), 761–779. https://doi.org/10.1080/12460125.2022.2133281
  • Katz, E., Blumler, J.G., & Gurevitch, M. (1973). Uses and gratifications research. Public Opinion Quarterly, 37(4), 509. https://doi.org/10.1086/268109
  • Kilicaslan, F., & Ekizler, H. (2022). Factors effecting purchase intention in blockchain and NFT (NON-FUNGIBLE TOKEN) technologies. Journal of Research in Business, 7(2), 604–623. https://doi.org/10.54452/jrb.1177600
  • Ko, H.-C., Wang, L.-L., & Xu, Y.-T. (2013). Understanding the different types of social support offered by audience to A-List diary-like and informative bloggers. Cyberpsychology, Behavior, and Social Networking, 16(3), 194–199. https://doi.org/10.1089/cyber.2012.0297
  • Kumar, A. (2009). Who gambles in the stock market? The Journal of Finance, 64(4), 1889–1933. https://doi.org/10.1111/j.1540-6261.2009.01483.x
  • Kwok, A.O.J., & Treiblmaier, H. (2023). Blockchain technology as a driver of economic development in small economies: A dynamic capabilities framework. Journal of Decision Systems, 1–26. https://doi.org/10.1080/12460125.2023.2214304
  • Lammer, D., Hanspal, T., & Hackethal, A. (2019). Who are the bitcoin investors? Evidence from indirect cryptocurrency investments. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3501549
  • Lansiaux, E., Tchagaspanian, N., & Forget, J. (2022). Community impact on a cryptocurrency: Twitter comparison example between dogecoin and litecoin. Frontiers in Blockchain, 5(December 2021), 1–17. https://doi.org/10.3389/fbloc.2022.829865
  • Lee, E. (2023). A guide to Memecoins: The risk and reward of $PEPE, Dogecoin, and more. Nftnow. Retrieved January 4, 2024, from. https://nftnow.com/guides/understanding-memecoins-how-to-buy-pepe-and-more/
  • Lin, C.-P., & Bhattacherjee, A. (2010). Extending technology usage models to interactive hedonic technologies: A theoretical model and empirical test. Information Systems Journal, 20(2), 163–181. https://doi.org/10.1111/j.1365-2575.2007.00265.x
  • Literat, I., & van den Berg, S. (2019). Buy memes low, sell memes high: Vernacular criticism and collective negotiations of value on Reddit’s MemeEconomy. Information Communication & Society, 22(2), 232–249. https://doi.org/10.1080/1369118X.2017.1366540
  • Li, X., & Wang, C.A. (2017). The technology and economic determinants of cryptocurrency exchange rates: The case of Bitcoin. Decision Support Systems, 95, 49–60. https://doi.org/10.1016/j.dss.2016.12.001
  • Lucas, R.E. (1978). Asset prices in an exchange economy. Econometrica, 46(6), 1429–1445. https://doi.org/10.2307/1913837
  • Maier, C., Laumer, S., Eckhardt, A., & Weitzel, T. (2015). Giving too much social support: Social overload on social networking sites. European Journal of Information Systems, 24(5), 447–464. https://doi.org/10.1057/ejis.2014.3
  • Mai, F., Shan, Z., Bai, Q., Wang, X., & Chiang, R.H.L. (2018). How does social media impact bitcoin value? A test of the silent majority hypothesis. Journal of Management Information Systems, 35(1), 19–52. https://doi.org/10.1080/07421222.2018.1440774
  • Markiewicz, Ł., & Weber, E.U. (2013). DOSPERT ’ s gambling risk-taking propensity scale predicts excessive stock trading. Journal of Behavioral Finance, 14(1), 65–78. https://doi.org/10.1080/15427560.2013.762000
  • Markowitz, H. (1952). Portfolio selection. The Journal of Finance, 7(1), 77–91. https://doi.org/10.1111/j.1540-6261.1952.tb01525.x
  • Mattke, J., Maier, C., Reis, L., & Weitzel, T. (2021). Bitcoin investment: A mixed methods study of investment motivations. European Journal of Information Systems, 30(3), 261–285. https://doi.org/10.1080/0960085X.2020.1787109
  • Mendoza-Tello, J.C., Mora, H., Pujol-Lopez, F.A., & Lytras, M.D. (2018). Social commerce as a driver to enhance trust and intention to use cryptocurrencies for electronic payments. IEEE Access, 6, 50737–50751. https://doi.org/10.1109/ACCESS.2018.2869359
  • Meyer, E., Welpe, I.M., & Sandner, P.G. (2022). Decentralized finance - a systematic literature review and research directions. European Conference on Information Systems (ECIS), Timișoara, Romania.
  • Mokni, K., Bouteska, A., & Nakhli, M.S. (2022). Investor sentiment and Bitcoin relationship: A quantile-based analysis. The North American Journal of Economics and Finance, 60, 101657. https://doi.org/10.1016/j.najef.2022.101657
  • Moore, C.M., & Chuang, L.M. (2017). Redditors revealed: Motivational factors of the Reddit community. Proceedings of the 50th Hawaii International Conference on System Sciences, Hawaii, USA.
  • Morgia, M.L.A., Mei, A., Sassi, F., & Stefa, J. (2023). The doge of wall street: Analysis and detection of pump and dump cryptocurrency manipulations. ACM Transactions on Internet Technology, 23(1), 1–28. https://doi.org/10.1145/3561300
  • Morris, D.Z. (2022). Meme coins, gambling and crypto regulation. Nasdaq. Retrieved July 3, 2023, from. https://www.nasdaq.com/articles/meme-coins-gambling-and-crypto-regulation
  • Nair, P.R., & Dorai, D.R. (2021). Evaluation of performance and security of proof of work and proof of stake using blockchain. Third International Conference on Intelligent Communication Technologies and Virtual Mobile Networks (ICICV), Tirunelveli, India.
  • Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. https://www.klausnordby.com/bitcoin/Bitcoin_Whitepaper_Document_HD.pdf
  • Nani, A. (2022). The doge worth 88 billion dollars: A case study of Dogecoin. Convergence: The International Journal of Research into New Media Technologies, 28(6), 1719–1736. https://doi.org/10.1177/13548565211070417
  • Nghiem, H., Muric, G., Morstatter, F., & Ferrara, E. (2021). Detecting cryptocurrency pump-and-dump frauds using market and social signals. Expert Systems with Applications, 182, 115284. https://doi.org/10.1016/j.eswa.2021.115284
  • Nunnally, J., & Bernstein, I. (1994). Psychometric theory (3rd ed.). McGraw-Hill.
  • Ozair, M. (2022). Thought leadership: Why are meme coins so popular? Understanding how they work and unveiling the hype. Rutgers University. https://www.business.rutgers.edu/business-insights/thought-leadership-why-are-meme-coins-so-popular-understanding-how-they-work-and
  • Paschalie, L.E., & Santoso, A.S. (2020). Cryptocurrencies as investment instrument: A social commerce and subscription-based service perspective. Journal of Business and Economic Analysis, 03(2), 106–132. https://doi.org/10.1142/j_10.36924sbe.2020.3202
  • Pelster, M., Breitmayer, B., & Hasso, T. (2019). Are cryptocurrency traders pioneers or just risk-seekers? Evidence from brokerage accounts. Economics Letters, 182(June), 98–100. https://doi.org/10.1016/j.econlet.2019.06.013
  • Pham, Q.T., Phan, H.H., Cristofaro, M., Misra, S., & Giardino, P.L. (2021). Examining the intention to invest in cryptocurrencies. International Journal of Applied Behavioral Economics, 10(3), 59–79. https://doi.org/10.4018/IJABE.2021070104
  • Rahayu, S., Rohman, A., & Harto, P. (2021). Herding behavior model in investment decision on emerging markets: Experimental in Indonesia. The Journal of Asian Finance, Economics & Business, 8(1), 53–59.
  • Razzaq, A., Shao, W., & Quach, S. (2023). Towards an understanding of meme marketing: Conceptualisation and empirical evidence. Journal of Marketing Management, 39(7–8), 670–701. https://doi.org/10.1080/0267257X.2022.2158906
  • Robey, D., & Boudreau, M.-C. (1999). Accounting for the contradictory organizational consequences of information technology: Theoretical directions and methodological implications. Information Systems Research, 10(2), 167–185. https://doi.org/10.1287/isre.10.2.167
  • Rosenberg, E. (2023). Meme coin explained. Investopedia. Retrieved July 12, 2023, from. https://www.investopedia.com/meme-coin-6750312#citation-9
  • Sahadi, J. (2024, January 10). SEC gives bitcoin ETFs the green light. Cnn. https://edition.cnn.com/2024/01/10/markets/bitcoin-etf-sec/index.html
  • Sargent, T.J., & Wallace, N. (1976). Rational expectations and the theory of economic policy. Journal of Monetary Economics, 2(2), 169–183. https://doi.org/10.1016/0304-3932(76)90032-5
  • Scott, W., Farh, J.-L., & Podsakoff, P.M. (1988). The effects of ‘intrinsic’ and ‘extrinsic’ reinforcement contingencies on task behavior. Organizational Behavior and Human Decision Processes, 41(3), 405–425. https://doi.org/10.1016/0749-5978(88)90037-4
  • Shehata, S.M., Abdeljawad, A.M., Mazouz, L.A., Aldossary, L.Y.K., Alsaeed, M.Y., & Noureldin Sayed, M. (2021). The moderating role of perceived risks in the relationship between financial knowledge and the intention to invest in the Saudi Arabian stock market. International Journal of Financial Studies, 9(1), 9. https://doi.org/10.3390/ijfs9010009
  • Shepilova, A. (2023). Meme coins: What are they, and should you too invest in one?. Cryptopay Ltd. Retrieved January 11, 2024, from. https://learn.cryptopay.me/what-are-memecoins
  • Shifman, L. (2013). Memes in a digital world: Reconciling with a conceptual troublemaker. Journal of Computer-Mediated Communication, 18(3), 362–377. https://doi.org/10.1111/jcc4.12013
  • Speakman, J. (2023). The rise of meme coins: How online communities are driving popularity. BeInNews Academy. Retrieved July 12, 2023, from. https://beincrypto.com/online-communities-driving-popularity-meme-coins/
  • Su, J. (2023). Redirecting the herd: Informing cryptocurrency regulations through the lens of behavioral science. Hashtings Science and Technology Law Journal, 14(1), 123–148.
  • Sukumaran, S., Bee, T.S., & Wasiuzzaman, S. (2022a). Cryptocurrency as an investment: The Malaysian context. Risks, 10(4), 86. https://doi.org/10.3390/risks10040086
  • Sukumaran, S., Bee, T.S., & Wasiuzzaman, S. (2022b). Investment in cryptocurrencies: A study of its adoption among Malaysian investors. Journal of Decision Systems, 32(4), 732–760. https://doi.org/10.1080/12460125.2022.2123086
  • Sung, E., Kwon, O., & Sohn, K. (2023). NFT luxury brand marketing in the metaverse: Leveraging blockchain‐certified NFTs to drive consumer behavior. Psychology & Marketing, 40(11), 2306–2325. https://doi.org/10.1002/mar.21854
  • Sun, H., & Zhang, P. (2006). Causal relationships between perceived enjoyment and perceived ease of use: An alternative approach. Journal of the Association for Information Systems, 7(9), 618–645. https://doi.org/10.17705/1jais.00100
  • Teutsch, J., Straka, M., & Boneh, D. (2019). Retrofitting a two-way peg between blockchains. http://arxiv.org/abs/1908.03999
  • Tönnissen, S., Beinke, J.H., & Teuteberg, F. (2020). Understanding token-based ecosystems – a taxonomy of blockchain-based business models of start-ups. Electronic Markets, 30(2), 307–323. https://doi.org/10.1007/s12525-020-00396-6
  • van der Heijden, H. (2004). User acceptance of hedonic information systems. MIS Quarterly, 28(4), 695. https://doi.org/10.2307/25148660
  • Venkatesh, V., & Davis, F.D. (2000). A theoretical extension of the technology acceptance model: Four longitudinal field studies. Management Science, 46(2), 186–204. https://doi.org/10.1287/mnsc.46.2.186.11926
  • Venkatesh, V., Thong, J.Y.L., & Xu, X. (2012). Consumer acceptance and use of information technology: Extending the unified theory of acceptance and use of technology. MIS Quarterly, 36(1), 157–178. https://doi.org/10.2307/41410412
  • Weisenthal, J. (2021). Memecoins and memestocks: Same madness, but worlds apart fundamentally. The Economic Times. https://economictimes.indiatimes.com/markets/cryptocurrency/memecoins-and-memestocks-same-madness-but-world-apart-fundamentally/articleshow/82553743.cms?from=mdr
  • Wheat, C., & Eckerd, G. (2022). The dynamics and demographics of U.S. Household crypto-asset use. JPMorgan Chase & Co. Retrieved January 12, 2024, from. https://www.jpmorganchase.com/institute/research/financial-markets/dynamics-demographics-us-household-crypto-asset-cryptocurrency-use
  • X Corp. (2024). About community notes on X. Retrieved January 12, 2024, from. https://help.twitter.com/en/using-x/community-notes
  • Yousaf, I., & Yarovaya, L. (2022). Herding behavior in conventional cryptocurrency market, non-fungible tokens, and DeFi assets. Finance Research Letters, 50(September 2021), 103299. https://doi.org/10.1016/j.frl.2022.103299
  • Zhao, X., Lynch, J.G., & Chen, Q. (2010). Reconsidering Baron and Kenny: Myths and truths about mediation analysis. Journal of Consumer Research, 37(2), 197–206. https://doi.org/10.1086/651257
  • Zhou, R., & Feng, C. (2017). Difference between leisure and work contexts: The roles of perceived enjoyment and perceived usefulness in predicting mobile video calling use acceptance. Frontiers in Psychology, 8(MAR), 1–14. https://doi.org/10.3389/fpsyg.2017.00350

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.